Sayaji Industries Reports Strong Q3FY26 Performance with Revenue of ₹282.90 Cr
Sayaji Industries delivered robust Q3FY26 performance with consolidated revenue of ₹282.90 crores, up 13% QoQ and 5% YoY. EBITDA improved dramatically to ₹15.88 crores with 5.60% margin versus negative margins in previous quarter. The company achieved profitability turnaround driven by maize price correction, improved operational efficiency, and favorable energy costs.

*this image is generated using AI for illustrative purposes only.
Sayaji Industries Limited has delivered a robust performance in Q3FY26, demonstrating significant operational improvements across key financial metrics. The company reported consolidated revenue of ₹282.90 crores for the quarter ended December 31, 2025, marking a 13% quarter-on-quarter growth and 5% year-on-year increase.
Consolidated Financial Performance
The company's consolidated results for Q3FY26 showed marked improvement in profitability metrics:
| Metric | Q3FY26 | Q2FY26 | Q3FY25 | QoQ Change | YoY Change |
|---|---|---|---|---|---|
| Revenue from Operations | ₹282.90 Cr | ₹249.31 Cr | ₹269.30 Cr | +13% | +5% |
| EBITDA | ₹15.88 Cr | (₹1.38 Cr) | ₹8.03 Cr | +1,254% | +98% |
| EBITDA Margin | 5.60% | (0.55%) | 2.98% | +616 bps | +262 bps |
| Profit After Tax | ₹3.59 Cr | (₹9.23 Cr) | (₹1.14 Cr) | Turnaround | Turnaround |
Total operating expenses decreased to ₹267.50 crores, reflecting improved operational efficiency and cost management initiatives.
Nine-Month Performance Overview
For the nine months ended December 31, 2025, the consolidated performance showed:
| Parameter | 9M FY26 | 9M FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹804.17 Cr | ₹757.38 Cr | +6% |
| EBITDA | ₹19.40 Cr | (₹5.83 Cr) | +433% |
| EBITDA Margin | 2.41% | (0.77%) | +318 bps |
| Loss After Tax | (₹9.13 Cr) | (₹3.39 Cr) | Higher Loss |
Management Commentary on Performance Drivers
Priyam Mehta, Chairman and Managing Director, highlighted several key factors contributing to the improved performance. The sharp correction in maize prices following government policy adjustments in the ethanol blending programme significantly benefited gross margins. The moderation in input costs, combined with improved realization of by-products and operational efficiencies, drove the earnings improvement.
Market Dynamics and Outlook
The company benefited from favorable market conditions during the quarter:
| Factor | Impact |
|---|---|
| Maize Price Correction | Improved gross margins |
| Energy Cost Reduction | Lower operational expenses |
| US Trade Tariff Reductions | Enhanced export opportunities |
| Operational Capacity | Optimum utilization maintained |
The management expressed confidence about sustained positive momentum, citing improved enquiry levels and conversion of export orders due to India's advantageous position relative to competing nations.
Standalone Results Comparison
The standalone financial results for Q3FY26 showed net profit of ₹351.82 lakhs compared to a net loss of ₹220.27 lakhs in Q3FY25. Standalone revenue from operations reached ₹26,014.22 lakhs, representing a 3.09% year-on-year growth.
Operational Highlights
Finance costs increased to ₹6.53 crores from ₹5.06 crores in Q3FY25, while depreciation and amortization expenses rose to ₹5.25 crores. The company's maize processing operations continued to run at optimum capacity during the quarter, with management noting comfortable raw material availability and pricing.
The financial results were approved by the Board of Directors on February 12, 2026, and submitted to BSE Limited under Regulation 33 of SEBI listing requirements. The company operates as a leading corn wet milling and specialty ingredients group, serving diverse industries across food, industrial and pharmaceutical sectors.
Historical Stock Returns for Sayaji Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.33% | +15.03% | +25.68% | +29.17% | +16.94% | +153.06% |


































